Fast Money Traders Debate On Brazilian Stocks

, Tim Seymour and Brian Kelly shared their views on Brazilian stocks ahead of the Presidential election. Seymour thinks that all the bad news are already priced in, which includes a victory of Dilma Rousseff. He added that if Aecio Neves wins Brazilian stocks will trade limit up in several sessions. When it comes to the elections in the emerging markets, there is usually a sell off before the elections and the markets rally after the event, said Seymour. He believes that it is a well known fact that there is no growth in Brazil's economy and that there is inflation issue, but at 10.5 earnings and a 4.7 percent dividend yield

trades cheap to itself, especially on the price to book ratio. Brian Kelly thinks that Brazil has a huge economic problem because China, its main customer, is slowing down. Commodity prices are on a decline and that is not good for Brazil, thinks Kelly. He sees no reason to be long

.